Cornerstone Wealth Management LLC Takes $239,000 Position in Alliant Energy Co. (NASDAQ:LNT)

Cornerstone Wealth Management LLC bought a new position in shares of Alliant Energy Co. (NASDAQ:LNT) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,933 shares of the company’s stock, valued at approximately $239,000.

Several other large investors have also recently bought and sold shares of the stock. Intech Investment Management LLC increased its holdings in shares of Alliant Energy by 604.0% during the 1st quarter. Intech Investment Management LLC now owns 72,768 shares of the company’s stock worth $3,668,000 after purchasing an additional 62,431 shares during the period. Cetera Investment Advisers lifted its position in shares of Alliant Energy by 200.8% in the 1st quarter. Cetera Investment Advisers now owns 215,821 shares of the company’s stock worth $10,877,000 after acquiring an additional 144,077 shares during the period. Forsta AP Fonden grew its holdings in shares of Alliant Energy by 36.3% during the 1st quarter. Forsta AP Fonden now owns 70,600 shares of the company’s stock worth $3,558,000 after purchasing an additional 18,800 shares in the last quarter. FORA Capital LLC bought a new stake in shares of Alliant Energy during the first quarter valued at approximately $2,199,000. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Alliant Energy by 105.5% in the first quarter. Ameritas Investment Partners Inc. now owns 33,166 shares of the company’s stock valued at $1,672,000 after purchasing an additional 17,030 shares in the last quarter. 79.90% of the stock is currently owned by institutional investors and hedge funds.

Alliant Energy Trading Up 0.3 %

LNT stock opened at $62.17 on Friday. The business has a fifty day moving average price of $59.23 and a 200 day moving average price of $54.24. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.48. Alliant Energy Co. has a fifty-two week low of $46.80 and a fifty-two week high of $62.49. The stock has a market capitalization of $15.94 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 2.89 and a beta of 0.58.

Alliant Energy (NASDAQ:LNT) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.57 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.07). The business had revenue of $894.00 million during the quarter, compared to the consensus estimate of $897.03 million. Alliant Energy had a net margin of 15.77% and a return on equity of 10.23%. The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Analysts expect that Alliant Energy Co. will post 3.05 EPS for the current fiscal year.

Alliant Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Thursday, October 31st will be paid a dividend of $0.48 per share. The ex-dividend date is Thursday, October 31st. This represents a $1.92 annualized dividend and a dividend yield of 3.09%. Alliant Energy’s dividend payout ratio (DPR) is currently 69.82%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. LADENBURG THALM/SH SH upgraded shares of Alliant Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $50.00 to $62.50 in a research note on Tuesday, August 13th. Wells Fargo & Company upped their target price on shares of Alliant Energy from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Wednesday. BMO Capital Markets raised their price target on shares of Alliant Energy from $58.00 to $60.00 and gave the stock a “market perform” rating in a research note on Tuesday, August 6th. Mizuho upped their price objective on Alliant Energy from $52.00 to $61.00 and gave the company a “neutral” rating in a research note on Friday, October 4th. Finally, Bank of America raised their target price on Alliant Energy from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.28.

About Alliant Energy

Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the United States. It operates in three segments: Utility Electric Operations, Utility Gas Operations, and Utility Other. The company, through its subsidiary, Interstate Power and Light Company (IPL), primarily generates and distributes electricity, and distributes and transports natural gas to retail customers in Iowa; sells electricity to wholesale customers in Minnesota, Illinois, and Iowa; and generates and distributes steam in Cedar Rapids, Iowa.